YARIY Yara International ASA (PK)

   By Dominic Chopping 
 

Norwegian fertilizer producer Yara International ASA (YAR.OS) warned Friday that its fourth-quarter results will be hit by asset impairment charges of around 1.15 billion Norwegian kroner ($133.6 million) as well as lower sales and production volumes.

The impairments relate to its Montoir fertilizer plant in France, which has seen profits weighed by lower grain prices as well as lower phosphate and potash demand, while its Trinidad ammonia plant has experienced frequent gas supply curtailments and low energy efficiency.

"In addition to the impairment charges, Yara's fourth-quarter results are impacted by lower sales and production volumes compared with a year earlier, mainly for ammonia and urea where Yara suffered significant production outages during the quarter."

The company is due to report its fuill-year report on February 11, and it said operating income in the fourth-quarter is seen at 0.7 billion kroner, while earnings before interest, tax, depreciation and amortisation is expected at around 3.5 billion kroner.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics

(END) Dow Jones Newswires

January 29, 2016 02:10 ET (07:10 GMT)

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